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August 26, 2025Finance & EconomicsOpen Access

Capital Structure Determinants in Chinese Listed Firms: Replication and Tangibility Hypothesis Extension

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JXJiake Xu

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Overview

Replication study shows profitability reduces leverage in Chinese listed firms, indicating institutional impacts matter.

Key Points

  • Higher profitability reduces leverage, confirming earlier findings on capital structure among Chinese firms.
  • Analysis of 200 A-share companies shows that asset tangibility increases long-term debt usage effectively.
  • Comparison of SOE and non-SOE reveals that ownership impacts capital structure decisions and risk behavior.
  • Study highlights the importance of adapting capital structure theory to local market contexts in finance.

Cite This Study

Jiake Xu (2025) studied this question.

synapsesocial.com/papers/68af63e9ad7bf08b1eae48b3https://doi.org/10.61173/2tp7ha71
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  4. 4Debt Maturity, Financing Pressure, and Expansion Motives: State-Dependent Moderating Effects on Capital Structure Adjustment Speed2026
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